This chemical is primarily utilized in the field of catalysis, particularly in gold-catalyzed organic transformations. It serves as a highly efficient ligand, enabling the activation of various substrates in reactions such as cyclization, hydroamination, and cross-coupling. Its unique structure enhances the stability and reactivity of gold complexes, making it valuable in synthesizing complex organic molecules, including pharmaceuticals and fine chemicals. Additionally, it is employed in asymmetric catalysis, contributing to the production of enantiomerically pure compounds. Its application in research and industrial processes underscores its importance in advancing synthetic methodologies.